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Today's Shanghai aluminum main contract 1709 fell under pressure, falling for three consecutive days, showing that the upper selling pressure was heavier, trading at 14530-14300 yuan / ton during the day, and closing at 14380 yuan / ton at the end, down 0.
59% on a daily basis, far weaker than other base metals
.
At present, Shanghai aluminum fell back to the high oscillation finishing platform
of nearly a week.
At the same time, the positive price difference between Shanghai aluminum 1708 and 1709 contracts fell to 80 yuan / ton
.
In terms of external trading, LME aluminum fluctuated in a narrow range around $1930 / ton today, of which 3-month LME aluminum traded at 1943-1923 US dollars / ton, now slightly down 0.
21% to 1929 US dollars / ton, the current London aluminum fell into a high wide range oscillation for the second consecutive week, showing that long and short trading is cautious, and the technical form is weaker than other base metals and Shanghai aluminum
.
On the macro front, the Asian dollar index continued to fall under pressure and is now trading around 93.
7, close to the low set on June 23 last year
.
In addition, the preliminary monthly rate of durable goods orders in the United States rose 6.
5% in June, the highest increase since July 2014, better than the market expectation of a 3% increase, a revised decline of 0.
1% in May, and a preliminary decline of 0.
8%.
In terms of aluminum market information, Coca-Cola's companies joined forces to ask Trump to exclude certain types of aluminum products from the proposed import restrictions
.
In terms of the market, on July 28, Shanghai aluminum trading concentrated 14190-14230 yuan / ton, the discount for the month was 140-130 yuan / ton, Wuxi transaction concentrated 14190-14230 yuan / ton, Hangzhou transaction concentrated 14260-14290 yuan / ton
.
Shanghai and Wuxi, holders of shipments are still active, the end of the session aluminum fell rapidly, the holders' wait-and-see attitude breeds, although the inventory in Hangzhou is high, but the circulation of goods is reduced, resulting in higher spot prices than Shanghai Wuxi
.
In the early stage, the intermediary was mainly for the downstream to receive goods, and the downstream enterprises purchased according to just demand, and after the fall of aluminum, the transaction became cold, and the overall transaction was worse
than yesterday.
During the day, the Shanghai aluminum 1709 contract fell under pressure to 14380 yuan / ton, which was a third consecutive day of decline, indicating that there was strong selling pressure above, and the performance was far worse than other base gold metals, and the short-term rebound pattern was damaged
.
In terms of operation, it is recommended that the Shanghai aluminum 1709 contract can be backed by 14550 yuan below the sky, the entry reference is around 14450 yuan, and the target is 14300 yuan / ton
.
